S&P Global Ratings has given an A long-term issue rating to Bank of China (HKG:3988, SHA:601988) Paris branch's proposed US dollar floating-rate notes, according to a Wednesday release.
The parent will draw down the notes from its $40 billion medium-term note program.
The notes' rating is in line with Bank of China's long-term issuer credit rating, with S&P assessing the branches' credit profiles as similar to that of the bank.
Proceeds from the notes will be channeled for eligible green projects.
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